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Job growth jumped a bit in August but unemployment rose to its highest level in over a year. The new data could help Fed to push pause on rate hike strategy as broader economy shows signs of cooling off.
WASHINGTON - U.S. consumer spending increased by the most in six months in July as Americans bought more goods and services, but slowing monthly inflation rates cemented expectations that the
U.S. job openings fell to the lowest level in almost 2-1/2 years in July, indicating a slowdown in the labor market and increasing expectations that the Federal Reserve will keep interest rates unchanged. The decline in job openings was led by the professional and business services sector, healthcare and social assistance, and state and local government.
U.S. job openings dropped to the lowest level in nearly 2-1/2 years in July as the labor market gradually slowed, bolstering expectations that the Federal Reserve will keep interest rates unchanged next month. The Job Openings and Labor Turnover Survey, or JOLTS report, from the Labor Department on Tuesday also showed the number of people quitting their jobs dropped to levels last seen in early 2021, indicating that Americans were becoming less confident in the labor market. That was reinforced
US job openings dropped to their lowest level in nearly 2 1/2 years, and the number of people quitting their jobs dropped to levels last seen in early 2021.